FUN Technologies Inc.
TSX : FUN
AIM : FUN
March 06, 2007 15:11 ET
FUN Technologies' Skill Games Network Reaches Industry Record of More than 30 Million Players Globally
Merger of Leading Skill Games Sites, WorldWinner and SkillJam, Continues to Drive Record Numbers of Cash Players, Games Played and Revenue per User
TORONTO, ONTARIO and SAN FRANCISCO, CALIFORNIA--(CCNMatthews - March 6, 2007) - FUN Technologies Inc. (TSX:FUN)(AIM:FUN), one of the world's leading online and interactive casual games providers, announced today at the 2007 Game Developers Conference that through the merger of its wholly-owned subsidiaries, WorldWinner and SkillJam, the company's FUN Games division has emerged as a global skill games powerhouse, touting the largest player network in the world at more than 30 million. Following FUN's acquisition of WorldWinner in March 2006, the company has completed the first phases of migrating registered players from SkillJam and its extensive partner network to the industry-leading WorldWinner tournament games platform. Additionally, FUN has added some of the most popular casual games formerly available on SkillJam to WorldWinner.com, including Bejeweled 2, Zuma, Big Money and Dynomite, giving players more games and more players against whom to compete. These new games complement the popular titles currently available on WorldWinner, including SCRABBLE® Cubes, Solitaire and Luxor.
Leveraging best practices from both WorldWinner and SkillJam, FUN's newly consolidated skill games offering has already realized increased revenues. SkillJam delivers a partner network of leading games and lifestyle sites, such as AOL Games and MSN Games, which are key to driving player acquisition, while WorldWinner provides an unparalleled tournament platform and superior player experience proven to increase player retention. As a result of the newly combined player network and additional games available on WorldWinner, members are playing an average of 60 percent more cash games daily, resulting in a 123 percent increase in average revenue per player. Furthermore, the number of new cash players on WorldWinner has increased 95 percent. In the wake of the consolidation of these two industry leaders, FUN Technologies is poised to capture significant market share in the fast-growth industry of casual games - estimated to reach USD 1.56 billion by 2008(1).
With its line-up of household games played offline for decades, fast-paced competition and myriad tournament modes that reward players with instant cash and prizes, FUN Games attracts nearly 8 million unique visitors per month(2) (comScore Media Metrix, December 2006). For gamers, this 'player liquidity,' which is unmatched in the industry, ensures tournaments close faster and winners are identified quickly, increasing the excitement of the games.
"Building a robust player network, leveraging our vast partner network, and creating the best selection of popular casual games were integral parts of our strategic vision for the merger of the two leading skill games sites," said Lorne Abony, chief executive officer of FUN Technologies. "WorldWinner and SkillJam represent the world's top two providers of skill games competitions and are complementary businesses in every way; consolidating them allows us to not only expand our games portfolio and player network to benefit existing gamers, but also to attract an entirely new audience."
Completing the Integration
Following the most recent migration of skill-based game players from AOL Games, FUN Games will continue to migrate additional registered players from key partner sites, including MSN Games and GSN, the Network for Games, to the WorldWinner platform, further expanding its player network. Additionally, the company will continue adding popular casual games titles to WorldWinner, including Lingo and BookWorm.
About FUN Technologies
FUN Technologies Inc. is one of the world's leading online casual games providers. FUN's strategy is to provide its cutting-edge games systems to top distribution partners around the world. FUN is 53% owned by Liberty Media Corporation (NASDAQ:LINTA)(NASDAQ:LCAPA), and FUN's common shares are listed on both the Toronto Stock Exchange and the Alternative Investment Market (AIM) of the London Stock Exchange under the symbol "FUN".
About FUN Games
FUN Technologies' FUN Games division, comprised of its wholly-owned subsidiaries SkillJam, WorldWinner, Octopi and Teagames, develops and distributes casual games solutions with a focus on free play and cash competitions across online, mobile and iTV platforms. Its broad network of partner sites includes leading global brands, such as AOL Games, EA-Pogo, GSN, Lycos, MSN Games, Real Networks and Virgin Games. FUN Games boasts the world's largest network of skill game players, with more than 30 million worldwide.
(1) Casual Games Association numbers in a DFC Intelligence joint market report
(2) Unduplicated Worldwide Total for WorldWinner.com, SkillJam.com, Teagames.com and PoxNora.com